logo
Plus   Neg
Share
Email

Chesapeake Establishes Office Of Chairman; Names Steven Dixon Acting CEO

Chesapeake Energy Corp. (CHK) said Friday that its Board of Directors has established a three-person Office of the Chairman while continuing its previously announced CEO search process with the assistance of Heidrick & Struggles.

The Office of the Chairman includes: Archie Dunham, Non-Executive Chairman of the Board; Steven Dixon, who has been named Acting Chief Executive Officer in addition to his continuing role as Chief Operating Officer; and Domenic Dell'Osso Jr., Chief Financial Officer.

As part of Chesapeake's previously announced succession plan, the members of the Office of the Chairman have been working closely to transition oversight of strategic, operational, and financial matters as well as certain day-to-day management responsibilities from Chief Executive Officer Aubrey McClendon, who has previously agreed with the Board to retire on April 1.

Chesapeake has been under scrutiny from federal regulators and investors after McClendon was found to have taken loans of more than $1 billion from private equity firm EIG Global Energy Partners LLC, using his stake in the company's drilling wells that were obtained under a controversial program.

The company, the second-largest natural gas producer in the U.S, has said that its extensive probe of alleged conflicts of interest involving McClendon has not revealed any improper conduct.

by RTTNews Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
An administrative law judge has ruled that Minnesota regulators should approve Enbridge Inc.'s proposal to replace its aging Line 3 crude oil pipeline only if the company follows the existing route and not its preferred route. Enbridge has applied to replace its Line 3 pipeline from Alberta with new pipe along its existing route. In Minnesota, the planned route deviates from the existing route. CLICK HERE to see America's 10 Best-Selling Drugs Despite high drug costs, most of the top-selling drugs saw sales gains in 2017 compared to the prior year. A large number of the best-selling drugs are primarily for the treatment and management of cancer, diabetes, inflammatory disorders, and HIV... Most Americans have access to health care, though costs and services vary from state to state. However, higher costs do not necessarily translate into better results. The U.S. continues to be outperformed by other wealthy nations on several measures like life expectancy, disease burden and health...
Follow RTT